Stock Buy Call: Hotung target price raised to 0.22 usd by DBS Equity Research!

DBS DBS Equity Research has raised its target price for Taiwan-based technology venture capitalist Hotung Investment Holdings Ltd to 0.22 usd from 0.186, citing favorable prospects in the Taiwanese equity market. "The improving economy should underpin growth in Hotung's investment portfolio," said DBS which maintained its "buy" rating. "Hence second quarter 2006 should benefit from the higher valuation of its listed investments, and higher capital gains from divestment." Hotung has two initial public offerings and three mergers and acquisition deals in the pipeline for the second quarter, while divestment activities are expected to be more aggressive this year, with management expected to make 12-15 disposals, the brokerage said in a client note. At 12.21 pm, Hotung was down 0.005 usd or 3.23 pct at 0.150 on volume of 988,000 shares.